Global Smart Labels Market Outlook

The global smart labels market size reached a value of USD 7.31 billion in 2019. The market is further expected to grow at a CAGR of 12.5% in the forecast period of 2020-2025 to reach a value of approximately USD 14.82 billion by 2025.

North America is the world's largest smart labels market, with the United States accounting for the largest share in the region. The massive market in the region can be attributed to the significant presence of retail stores, both small and large. The country was led by retail giants, like Walmart and others, which contributed to an upsurge in operations, primarily leading to the development of the smart label industry. Walmart has put electronic identification tags on men's apparel, including jeans, as the world's largest retailer is seeking to maintain greater control of its inventory.

Properties and Applications

Smart labels work as an innovative label that allows anyone to track product information through their smart devices. These smart labels not just provide information on the product as well as the ingredients used in it, but also provide information on the manufacturer, date of manufacture, and other crucial information. Smart labels are currently used by different industries, like manufacturing, healthcare, automotive, food and beverage, retail, security, FMCG, and others. These smart labels also offer a smart traceability of the product and help to maintain its authenticity.

On the basis of technology, the smart labels market can be divided into:

Radio-Frequency Identification (RFID)

Electronic Article Surveillance (EAS)

Electronic Shelf Label (ESL)

Sensing Labels

Near Field Communication (NFC)

Others

Based on the component, the industry can be divided into:

Batteries

Transceivers

Microprocessors

Memories

The end-use sectors of the product can be segmented as follows:

Retail

Logistics and Transportation

Healthcare

Food and Beverage

Aerospace

Data Centres and Libraries

Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Market Analysis

The applicability of smart labels in a broad range of vertical sectors is among the key factors boosting the smart labels market development. In the healthcare industry, these labels help to track the use and storage of medications and to regulate the inventory. They are also used in assisted living facilities to monitor the position of patients, their body temperature, and the dampness of dressings or diapers. In addition, these labels provide improved and managed inventory management for the efficient monitoring of products by maintaining the credibility of the supply chain in the logistics industry. In addition, the demand for smart labels among e-commerce companies has been boosted to reduce the reliance on handheld scanners to collect product information, improve time productivity, and reduce training and labour costs. Smart labels containing built-in alarms are useful for preventing robberies and shoplifting incidents. In addition, with the introduction of Internet of Things (IoT) technology, many companies are developing sensors that can be printed on smart labels at a lower cost compared to silicone sensors. These factors are expected to propel the growth of the smart labels market in the coming years.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global smart labels market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

Avery Dennison Corporation

CCL Industries Inc.

Smartrac Technology GmbH

Mühlbauer Group

Checkpoint Systems, Inc

Zebra Technologies Corp

Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

The major drivers of the market such as rising disposable incomes, growing adoption of the product by healthcare and ecommerce industries, and introduction of smart labels with built-in alarms to prevent shoplifting and robbery incidents are expected to aid the market growth.

The major technologies in the market are radio-frequency identification (RFID), electronic article surveillance (EAS), electronic shelf label (ESL), sensing labels, and near field communication (NFC), among others.

The global smart labels market attained a value of USD 7.31 billion in 2019 driven by the adoption of the product by ecommerce and healthcare sectors. Aided by technological advancements, the market is expected to witness a further growth in the forecast period of 2020-2025, growing at a CAGR of 12.5%. The market is projected to reach USD 14.82 billion by 2025.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on technology, the smart labels market can be segmented into radio-frequency identification (RFID), electronic article surveillance (EAS), electronic shelf label (ESL), sensing labels, and near field communication (NFC), among others. On the basis of component, the market is divided into batteries, transceivers, microprocessors, and memories. Retail, logistics and transportation, healthcare, food and beverage, aerospace, and data centres and libraries, among others are the major end-use sectors in the market. The major regional markets for smart labels are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa., with North America accounting for the largest share of the market. The key players in the above market include Avery Dennison Corporation, CCL Industries Inc., Smartrac Technology GmbH, Mühlbauer Group, Checkpoint Systems, Inc, Zebra Technologies Corp, and others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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